Scholar Rock (NASDAQ:SRRK) Earns Strong-Buy Rating from Analysts at Raymond James

Equities research analysts at Raymond James assumed coverage on shares of Scholar Rock (NASDAQ:SRRK) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “strong-buy” rating and a $30.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 94.17% from the company’s previous close.

Other analysts have also issued research reports about the company. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Scholar Rock in a research report on Tuesday, January 23rd. Truist Financial reiterated a “buy” rating and issued a $20.00 price objective on shares of Scholar Rock in a research note on Monday. Piper Sandler restated an “overweight” rating and set a $28.00 target price on shares of Scholar Rock in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Scholar Rock in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.17.

Scholar Rock Stock Up 3.0 %

NASDAQ:SRRK opened at $15.45 on Thursday. The company has a quick ratio of 8.80, a current ratio of 8.80 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.76 and a beta of 0.89. Scholar Rock has a 52 week low of $5.56 and a 52 week high of $21.17. The stock’s fifty day moving average is $15.55 and its two-hundred day moving average is $13.32.

Insider Buying and Selling

In other Scholar Rock news, insider Mo Qatanani sold 2,512 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $39,538.88. Following the completion of the sale, the insider now directly owns 147,019 shares of the company’s stock, valued at approximately $2,314,079.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Junlin Ho sold 3,489 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.74, for a total transaction of $54,916.86. Following the completion of the transaction, the general counsel now directly owns 208,771 shares of the company’s stock, valued at approximately $3,286,055.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mo Qatanani sold 2,512 shares of Scholar Rock stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.74, for a total value of $39,538.88. Following the completion of the sale, the insider now owns 147,019 shares in the company, valued at $2,314,079.06. The disclosure for this sale can be found here. Insiders have sold a total of 46,303 shares of company stock valued at $769,490 over the last quarter. 26.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Scholar Rock

A number of institutional investors and hedge funds have recently made changes to their positions in SRRK. Point72 Hong Kong Ltd lifted its stake in shares of Scholar Rock by 1,388.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,171 shares of the company’s stock valued at $41,000 after purchasing an additional 2,958 shares during the period. Royal Bank of Canada increased its holdings in Scholar Rock by 192.3% in the second quarter. Royal Bank of Canada now owns 3,493 shares of the company’s stock valued at $26,000 after buying an additional 2,298 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Scholar Rock by 52.8% during the 3rd quarter. Amalgamated Bank now owns 4,217 shares of the company’s stock worth $30,000 after acquiring an additional 1,458 shares in the last quarter. UBS Group AG boosted its stake in shares of Scholar Rock by 279.0% during the 1st quarter. UBS Group AG now owns 4,328 shares of the company’s stock worth $35,000 after acquiring an additional 3,186 shares in the last quarter. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Scholar Rock in the 4th quarter worth approximately $94,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.